IDRE Acquire Building Two, Europa View, Sheffield Business Park, S9 1XH

IDRE have successfully acquired a modern out-of-town office building located at Sheffield Business Park on behalf of private clients.

The self-contained office comprised 20,312 sq ft and was let in its entirety to Fulcrum Infrastructure Services Ltd, by way of an FRI lease expiring in June 2026 with a passing rent of £259,000 pa.

The property was purchased from The Canal and River Trust for £1,575,000 which reflects a net initial yield of 15.5%.

The asset provides our client with an opportunity to take back some space for refurbishment as part of negotiations with the current occupier to extend their lease. We look forward to seeing how the asset progresses.

The vendor, was advised by Ben Hall at Northcap, Leeds.